Specialty coffee brand First Coffee raises $1.2 million in a Seed round
Breaking News: First Coffee’s Funding Success
The Indian coffee scene is buzzing with excitement! ☕ Specialty coffee brand First Coffee raises $1.2 million in a Seed round, led by BEENEXT. This startup is ready to shake up the coffee market with its fresh approach and ambitious plans.
Key Details of the Funding Round
| Aspect | Details |
|---|---|
| Amount Raised | $1.2 million |
| Lead Investor | BEENEXT |
| Round Type | Seed funding |
| Notable Investors | Ashish Gupta, AngelList India, Dr. Ritesh Malik, Sahil Malik |
First Coffee: A Startup on the Rise
Founded in 2023 by Sohrab Sitaram and Shiv Dhawan, First Coffee is India’s first single-origin, single-estate coffee business. The startup currently operates four stores and is growing fast.
Company Overview
| Category | Information |
|---|---|
| Founded | 2023 |
| Founders | Sohrab Sitaram and Shiv Dhawan |
| Current Stores | 4 |
| Monthly Growth | 25% |
| Daily Sales | ~100 cups per outlet |
Ambitious Expansion Plans
🎯 Specialty coffee brand First Coffee raises $1.2 million with big dreams in mind. The startup aims to open 35 stores by mid-2025, focusing on urban areas in Delhi NCR and Tier 1 cities in North India.
The First Coffee Experience
First Coffee isn’t just about selling coffee. It’s about creating a unique experience for customers. The startup combines design, culture, and technology to stand out in the crowded coffee market.
Sustainability at the Core
🌿 First Coffee sources its beans from the Harley Coffee Estate in Chikmagalur, Karnataka. The startup focuses on sustainable practices, using shade-grown coffee and eco-friendly methods.
Tech-Driven Approach
In today’s digital age, First Coffee is leveraging technology to enhance customer experience. The startup uses AI-driven analytics and big data to optimize its operations.
The Competitive Landscape
First Coffee isn’t alone in the specialty coffee market. Let’s look at how it stacks up against some competitors:
| Brand | Stores | Espresso Price (RMB) | Cappuccino Price (RMB) |
|---|---|---|---|
| First Coffee | 4 | 115 | 175 |
| Third Wave Coffee | 110 | 189 | 219 |
| Blue Tokai | 102 | 190 | 230 |
| abCoffee | 48 | 77 | 97 |
| Nothing Before Coffee | N/A | 98 | 112 |
The Coffee Market Boom
☝️ Did you know? The Indian coffee market is expected to reach $1227.47 million by 2032, growing at a 9.87% CAGR from 2024 to 2033.💰 Specialty coffee brand First Coffee raises $1.2 million, joining a trend of increased investment in coffee startups. In 2024, new-age coffee chains raised $48.4 million, up from $39 million in 2023[2].
What’s Next for First Coffee?
With fresh funding and ambitious plans, First Coffee is poised for rapid growth. The startup will use the funds to:
- Expand its store network
- Hire new talent
- Boost marketing efforts
- Bring its premium coffee experience to more locations
As this exciting startup continues to grow, coffee lovers across India can look forward to more delicious, sustainably sourced coffee options. The future of Indian coffee is looking brighter (and tastier) than ever! ☀️☕
You can read more blogs related to startups by clicking here.
Thanks
Sources:
[1] Customer Market Insights
[2] Tracxn
Citations:
[1] https://www.worldcoffeeportal.com/Latest/News/2024/July/India-s-First-Coffee-outlines-plan-to-open-35-stor
[2] https://www.verdictfoodservice.com/news/indian-start-up-first-coffee/
[3] https://inc42.com/buzz/first-coffee-bags-1-2-mn-funding-from-beenext-to-scale-up-store-network/
[4] https://www.outlookbusiness.com/corporate/first-coffee-raises-12-million-in-seed-round-led-by-beenext
[5] https://entrackr.com/2024/09/first-coffee-raises-1-2-mn-in-seed-round-led-by-beenext/
[6] https://indianstartupnews.com/funding/specialty-coffee-brand-first-coffee-raises-funding-in-a-seed-round-7096538
[7] https://bwdisrupt.com/article/first-coffee-bags-12-mn-in-seed-round-led-by-beenext-534389
[8] https://indianstartuptimes.com/investment/first-coffee-secures-1-2-million-in-seed-funding-led-by-beenext-for-expansion-in-indias-specialty-coffee-market/
